The pet diabetes care global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Pet Diabetes Care Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The pet diabetes care market size has grown strongly in recent years. It will grow from <b>$2.04 billion in 2023 to $2.23 billion in 2024 at a compound annual growth rate (CAGR) of 9.6%. </b> The growth in the historic period can be attributed to growing awareness of pet health, advancements in veterinary medicine, prevalence of diabetes in pets, humanization of pets, increased focus on pet nutrition, awareness campaigns by veterinary organizations, availability of insulin and medications.
The pet diabetes care market size is expected to see strong growth in the next few years. It will grow to <b>$3.21 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%. </b> The growth in the forecast period can be attributed to rise in pet insurance adoption, customized diabetes management plans, focus on preventive pet healthcare, globalization of pet health trends, increasing investments in pet healthcare research, rising consumer affluence. Major trends in the forecast period include advancements in veterinary diagnostics, focus on pet obesity management, innovation in insulin delivery systems, rise in pet insurance coverage, increased availability of specialized pet foods:, telemedicine and remote monitoring, collaborations in veterinary medicine.
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Scope Of Pet Diabetes Care Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Pet Diabetes Care Market Overview
Market Drivers –
An increase in pet adoption is expected to propel the growth of the pet diabetes care market going forward. Pet adoption is the process of obtaining a pet from a shelter or rescue that has been left behind by its prior owners, as opposed to buying a pet from a pet store, breeder, or other individuals. Diabetes is increasingly being diagnosed in pets every year, which is partly because their lifestyles mirror ours in that they are more sedentary and rely more heavily on processed foods. For instance, according to the survey conducted by the American Pet Products Association (APPA), a US-based leading trade group for the pet business, in June 2021, 70% of American homes have pets, up from 67% in the 2019-2020 survey. A new pet was adopted by 14% of all respondents (pet owners and non-pet owners combined). Therefore, an increase in pet adoption is driving the growth of the pet diabetes care market.
Market Trends –
Increased research and development activity and the launch of new products are the key trends gaining popularity in the pet diabetes market. Numerous studies are being conducted on diabetes in animals to understand the condition better and make management more effortless. Moreover, companies are launching new products, such as generic drugs, to sustain their position in the market. In December 2022, the U.S. Food and Drug Administration (FDA), a scientific regulatory agency, approved the medication from Elanco Animal Health Inc. for cats with a specific type of diabetes, making it the first oral medication authorized for the condition in animals.
The pet diabetes care market covered in this report is segmented –
1) By Drug Type: Insulin Therapy, Oral Medication
2) By Device Type: Glucose Monitoring Devices, Insulin Delivery Devices
3) By Animal Type: Canine, Feline, Other Animal Types
4) By End-User: Veterinary Clinics, Home Care Settings, Veterinary Hospitals
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Regional Insights –
North America was the largest region in the pet diabetes care market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pet diabetes care market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the pet diabetes care market report are C.H. Boehringer Sohn AG & Co. KG, Becton Dickinson and Company, Merck & Co Inc., Zoetis Inc., Trividia Health Inc., Allison Medical Inc., UltiMed Inc., Apotex Inc., Henry Schein VET GmbH, Medtrust Holdings Inc., i-SENS Inc., Taidoc Technology Corp., Covetrus Inc., ALR Technologies Inc., Vet Innovations Inc., F. Hoffmann-La Roche Ltd., Abbott Laboratories, AgaMatrix Inc., Ascensia Diabetes Care Holdings AG, Bayer AG, Dexcom Inc., LifeScan Inc., Medtronic plc, Novo Nordisk A/S, Sanofi S.A., Senseonics Holdings Inc., Tandem Diabetes Care Inc., Terumo Corporation, Animas Corporation, Insulet Corporation, Roche Diabetes Care Inc.
Table of Contents
1. Executive Summary
2. Pet Diabetes Care Market Characteristics
3. Pet Diabetes Care Market Trends And Strategies
4. Pet Diabetes Care Market – Macro Economic Scenario
5. Global Pet Diabetes Care Market Size and Growth
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31. Global Pet Diabetes Care Market Competitive Benchmarking
32. Global Pet Diabetes Care Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Pet Diabetes Care Market
34. Pet Diabetes Care Market Future Outlook and Potential Analysis
35. Appendix
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